The Tourist Company of Nigeria Plc on the 25th July, 2019 posted a declined N592mn turnover for the first half results ended June 30, 2019, down by 10.43% below N661mn previously reported turnover in HY’2018.
The company that is engaged in the operation of gaming and hospitality businesses in Victoria Island, Lagos shed its bottom-line figures by 40.71% to arrive at N931mn deficit from N661mn deficit in the preceding period of 2018.
Consequently, the company’s earnings per share dropped by 40% from N0.29 in 2018 to N0.41 both in deficit.
As at the day of computation the price earnings ratio stood at -8.44x with N3.50 as the reference price, while the company’s earnings yield stood at -11.85% with outstanding number of shares running to over 2 billion.